Registered number
01650990
Escalmain Limited
Report and Unaudited Accounts
31 December 2023
Collins
Chartered Accountants
West Midlands
Escalmain Limited
Registered number: 01650990
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 4 239,938 234,143
Current assets
Stocks 557,996 506,037
Debtors 5 13,706 6,147
Cash at bank and in hand 65,325 77,339
637,027 589,523
Creditors: amounts falling due within one year 6 (101,327) (100,310)
Net current assets 535,700 489,213
Total assets less current liabilities 775,638 723,356
Creditors: amounts falling due after more than one year 7 (94,108) (109,295)
Provisions for liabilities (8,780) (5,572)
Net assets 672,750 608,489
Capital and reserves
Called up share capital 3 3
Profit and loss account 672,747 608,486
Shareholder's funds 672,750 608,489
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Cooper
Director
Approved by the board on 15 February 2024
Escalmain Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised when the services have been completed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings No depreciation
Leasehold land and buildings over the lease term
Equipment and computers 10 % reducing balance and 50% straight line
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Taxation 2023 2022
£ £
UK corporation tax 37,555 28,500
Deferred tax 3,208 (813)
40,763 27,687
4 Tangible fixed assets
Land and buildings Leasehold Improvements Vehicles and Equipment Total
£ £ £ £
Cost
At 1 January 2023 204,817 20,925 84,551 310,293
Additions - - 10,953 10,953
At 31 December 2023 204,817 20,925 95,504 321,246
Depreciation
At 1 January 2023 - 20,925 55,225 76,150
Charge for the year - - 5,158 5,158
At 31 December 2023 - 20,925 60,383 81,308
Net book value
At 31 December 2023 204,817 - 35,121 239,938
At 31 December 2022 204,817 - 29,326 234,143
5 Debtors 2023 2022
£ £
Trade debtors 11,220 3,295
Prepayments and accrued income 2,486 2,852
13,706 6,147
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans 16,389 17,656
Trade creditors 2,012 3,790
Corporation tax 37,555 28,500
Other taxes and social security costs 14,778 15,682
Directors loans 18,058 17,717
Accruals and deferred income 12,535 16,965
101,327 100,310
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 94,108 109,295
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 85,285 94,447
Lloyds bank plc holds an unlimited debenture and a first legal charge over the freehold property at 2049 Coventry Road Sheldon, B26 3DY
9 Dividends 2023 2022
£ £
Dividends for which the company became liable during the year:
Dividends paid 65,000 60,000
10 Controlling party
The company is under the control of A Cooper
11 Other information
Escalmain Limited is a private company limited by shares and incorporated in England. Its registered office is:
2059 Coventry Road
Sheldon
Birmingham
B26 3DY
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